Personal loans for part-time workers
Working part-time does not prevent you from checking whether you are likely to be accepted for a personal loan. 118 118 Money does not offer a separate part-time or guaranteed loan product. We look at each application individually, including your income, household outgoings, credit history and whether the repayments would be affordable.
A personal loan can help spread the cost of a planned expense into fixed monthly repayments. Before you borrow, the important question is not simply whether you have a job. It is whether the repayment still fits your normal budget when your hours, overtime or shifts are lower than usual.
Our eligibility check gives you an indication of whether you are likely to be accepted before a full application. It does not affect your credit score, so you can consider your options without committing to a full application.
Start with the income you can rely on
Part-time work can look different from one month to the next. Your hours may be fixed, or they may change with rotas, term dates, seasonal demand, childcare, illness or the availability of extra shifts. A loan repayment should be based on the income you can reasonably expect, not your best month.
Look at several recent months. Check your payslips or bank statements to understand what usually comes in, rather than relying on a month with more shifts.
Allow for changes in hours. If your rota can reduce at short notice, leave enough room in your budget for a lower-income month.
Keep the details accurate. Giving a clear picture of your income and outgoings helps us make a fair affordability assessment.
Income from part-time work, other work or regular benefits may form part of your overall circumstances. That does not guarantee acceptance. The amount and term available, if any, depend on the full picture.
Make sure the repayment works in a quiet month
A fixed monthly payment needs to be manageable throughout the full loan term. Before you apply, list the costs that have to be paid first, including rent or mortgage payments, household bills, food, travel, childcare, existing credit commitments and any regular support you provide to family members.
Then check your budget against a typical lower-income month. If the repayment only works when you receive extra shifts, bonuses or overtime, it may put too much pressure on your finances when those hours are not available. A manageable payment should leave room for the essentials and for reasonable unexpected costs.
Use our loan calculator to explore likely repayments over different terms. The monthly figure matters, but so does the total amount you will repay.
Check your existing commitments before you borrow
A new loan payment sits alongside everything else you already pay. Credit cards, catalogue accounts, car finance, buy now pay later plans and overdrafts can all affect how much room you have in your budget. It is easy to focus on the new payment and overlook a payment that is due later in the month.
Add up the minimum payments you already have and look at the dates they leave your account. If several payments are due around the same time as your rent, bills or childcare costs, a new commitment could make that part of the month harder to manage. A budget that works on paper should also work when the payments actually fall due.
If you already have debts that feel difficult to manage, a new loan may not solve the problem. Consider speaking with the companies you owe or getting free, independent debt advice before taking on more credit.
Choose a loan amount for a clear purpose
Borrowing tends to be easier to manage when it is linked to one specific cost, such as an essential repair, replacing a household item or another planned expense. Write down the amount you need before you apply and consider whether a smaller amount would solve the problem.
It is worth pausing if the money would only cover regular day-to-day spending, rent, food or bills that you already struggle to keep up with. Adding another repayment can make the months ahead harder. A payment arrangement with the company you owe, help with a budget, or independent debt advice may be a better starting point.
Prepare for an honest affordability check
An affordability check is there to make sure a repayment is suitable for your circumstances. Before you start, it can help to have a clear view of what you earn in a normal month, what you spend on essentials and which regular payments cannot be missed.
Do not try to make your budget look stronger than it is. A repayment based on inaccurate income or understated spending can become difficult to keep up with. Accurate information gives you a more useful outcome and can help you decide whether borrowing is a sensible step.
It may also be useful to think about what would change if your hours reduced for a few weeks. If there is no realistic way to cover the repayment in that situation, waiting, reducing the amount you need or looking for another solution may be the safer choice.
Understand what an eligibility check tells you
An eligibility check provides an indication of whether you are likely to be accepted based on the information you give us. It is a useful first step if you want to understand your options before making a full application, and it will not affect your credit score.
If you decide to continue, you will complete a full application. A final decision follows a fuller review of your circumstances. Being eligible to apply does not guarantee that a loan will be offered, and the amount, interest rate and repayment term available can vary.
If approved and set up, funds could arrive in as little as 15 minutes. This can vary from 15 minutes to 2 hours depending on your bank. Take time to read the terms before accepting any offer and borrow only what you need.
Think beyond this month's budget
Your work pattern can change during a loan term. Consider what would happen if you needed fewer hours, changed jobs, had childcare costs rise or lost access to regular extra shifts. Planning for those possibilities now can help you avoid a repayment that becomes difficult later.
A longer term may lower the monthly payment, but it can increase the total amount you repay. A shorter term may reduce the overall cost, but only if the higher monthly payment remains comfortable. The right term is the one that fits your normal budget without relying on income that may not be certain.
When a personal loan may not be the right answer
Credit costs money. If you are already finding it hard to cover essentials or keep up with repayments, taking out a new loan could increase the pressure. You may be better off speaking with the organisation you owe, reviewing your budget or getting free, independent debt advice before making a borrowing decision.
Our money guidance can help you consider your next step. For a wider explanation of how personal loans work, visit our loans page.